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Finance and Financial Management Commons™
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Articles 1 - 11 of 11
Full-Text Articles in Finance and Financial Management
The Identification And Exploitation Of Terrorist Financing, Jacob S. Gordon
The Identification And Exploitation Of Terrorist Financing, Jacob S. Gordon
Senior Honors Theses
Terrorism and the threat of terrorist attacks have forced the United States to place a high priority on developing a comprehensive counterterrorism strategy. A crucial component of this overarching strategy focuses on targeting the finances of a terrorist organization, hoping to eliminate or stifle their sources of funding in an effort to render the organization incapable of launching successful operations due to an absence of funding. By analyzing the most common financing options that terrorist groups use, the United States can hone its ability to disrupt the funding operations for terrorist groups. Likewise, developing a method for tracking the laundering …
Establishing Construct Validity And Reliability: Pilot Testing Of A Qualitative Interview For Research In Takaful (Islamic Insurance), Maryam Dikko
The Qualitative Report
This paper describes the process of the conduct of preliminary tests to determine the construct and content validity of the chosen data collection method for a study into the relationship between Islamic principles and objectives, Islamic financial law and takaful (slamic Insurance) operations and practices in Nigeria. Semi-structured interviews were tested on a select group of respondents mirroring the intended subjects in the field. The pilot test showed the construct to be both valid and reliable while giving the opportunity to insert refinements to the research tool.
Sunlight Bylaws And Reciprocal Disclosures, Grace Lee Mead
Sunlight Bylaws And Reciprocal Disclosures, Grace Lee Mead
Fordham Journal of Corporate & Financial Law
Publicly-traded companies have the power to pass sunlight bylaws to address hedge fund activism. Sunlight bylaws would require activist hedge funds to publicly disclose any strategic proposals and their financial interests in companies earlier and at thresholds lower than current securities laws. Sunlight bylaws would also require disclosure of additional information, including: (1) the percentage of the fund’s portfolio invested in the company; (2) the fund manager’s compensation; (3) the fund manager’s investment in the fund; (4) the fund’s portfolio turnover; and (5) the fund’s prior holding periods after any announcements of an ownership interest and a strategic proposal. Academic …
Disciplining Corporate Boards And Debtholders Through Targeted Proxy Access, Michelle M. Harner
Disciplining Corporate Boards And Debtholders Through Targeted Proxy Access, Michelle M. Harner
Indiana Law Journal
Corporate directors committed to a failed business strategy or unduly influenced by the company’s debtholders need a dissenting voice—they need shareholder nominees on the board. This Article examines the biases, conflicts, and external factors that impact board decisions, particularly when a company faces financial distress. It challenges the conventional wisdom that debt disciplines management, and it sug-gests that, in certain circumstances, the company would benefit from having the shareholders’ perspective more actively represented on the board. To that end, the Article proposes a bylaw that would give shareholders the ability to nominate direc-tors upon the occurrence of predefined events. Such …
Keynote Address, Regulating Corporate Governance In The Public Interest: The Case Of Systemic Risk, Steven L. Schwarcz
Keynote Address, Regulating Corporate Governance In The Public Interest: The Case Of Systemic Risk, Steven L. Schwarcz
Faculty Scholarship
There’s long been a debate whether corporate governance law should require some duty to the public. The accepted wisdom is not to require such a duty—that corporate profit maximization provides jobs and other public benefits that exceed any harm. This is especially true, the argument goes, because imposing specific regulatory requirements and making certain actions illegal or tortious can mitigate the harm without unduly impairing corporate wealth production. Whether that is true in other contexts, this paper—delivered as the keynote address at the June 2016 National Business Law Scholars Conference at The University of Chicago Law School—questions if it’s true …
Shadow Banking And Regulation In China And Other Developing Countries, Steven L. Schwarcz
Shadow Banking And Regulation In China And Other Developing Countries, Steven L. Schwarcz
Faculty Scholarship
The rapid but largely unregulated growth in shadow banking in developing countries such as China can jeopardize financial stability. This article discusses that growth and argues that a regulatory balance is needed to help protect financial stability while preserving shadow banking as an important channel of alternative funding. The article also analyzes how that regulation could be designed.
Misalignment: Corporate Risk-Taking And Public Duty, Steven L. Schwarcz
Misalignment: Corporate Risk-Taking And Public Duty, Steven L. Schwarcz
Faculty Scholarship
This article argues for a “public governance duty” to help manage excessive risk-taking by systemically important firms. Although governments worldwide, including the United States, have issued an array of regulations to attempt to curb that risk-taking by aligning managerial and investor interests, those regulations implicitly assume that investors would oppose excessively risky business ventures. That leaves a critical misalignment: because much of the harm from a systemically important firm’s failure would be externalized onto the public, including ordinary citizens impacted by an economic collapse, such a firm can engage in risk-taking ventures with positive expected value to its investors but …
Perspectives On Regulating Systemic Risk, Steven L. Schwarcz
Perspectives On Regulating Systemic Risk, Steven L. Schwarcz
Faculty Scholarship
This book chapter, which synthesizes several of the author’s articles, attempts to provide useful perspectives on regulating systemic risk. First, it argues that systemic shocks are inevitable. Accordingly, regulation should be designed not only to try to reduce those shocks but also to protect the financial system against their unavoidable impact. This could be done, the chapter explains, by applying chaos theory to help stabilize the financial system. The chapter then focuses on trying to prevent excessive corporate risk-taking, which is one of the leading triggers of systemic shocks and widely regarded to have been a principal cause of the …
Understanding The Global In Global Finance And Regulation, Lawrence G. Baxter
Understanding The Global In Global Finance And Regulation, Lawrence G. Baxter
Faculty Scholarship
No abstract provided.
Governmental Intervention In An Economic Crisis, Robert K. Rasmussen, David A. Skeel Jr.
Governmental Intervention In An Economic Crisis, Robert K. Rasmussen, David A. Skeel Jr.
All Faculty Scholarship
This paper articulates a framework both for assessing the various government bailouts that took place at the onset of Great Recession and for guiding future rescue efforts when they become necessary. The goals for those engineering a bailout should be to be as transparent as possible, to articulate clearly the reason for the intervention, to respect existing priorities among investors, to exercise control only at the top level where such efforts can be seen by the public, and to exit as soon as possible. By these metrics, some of the recent bailouts should be applauded, while others fell short. We …
Quasi-Public Spending, John R. Brooks
Quasi-Public Spending, John R. Brooks
Georgetown Law Faculty Publications and Other Works
The United States has increasingly designed certain public spending programs not as traditional tax-financed programs, but rather as mixtures of private expenditures, subsidies, and limited taxes. Thus part of what could have gone to the government as a tax is instead used to purchase the good or service directly, with only incremental taxes and subsidies to manage distributional goals. This Article terms this “quasi-public spending,” and argues that it is descriptive of our evolving approaches to both health care and higher education. Based on this observation, the Article defines and analyzes quasipublic spending and compares it to both traditional public …